Morgan Stanley Has Lowered Expectations for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its price objective lowered by equities research analysts at Morgan Stanley from $290.00 to $270.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 10.81% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Citigroup lowered their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group lowered their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Needham & Company LLC assumed coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. Finally, StockNews.com raised Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $293.40.

Boston Beer Stock Performance

Shares of SAM opened at $243.67 on Wednesday. The stock has a 50-day moving average of $258.51 and a two-hundred day moving average of $280.52. Boston Beer has a one year low of $222.27 and a one year high of $339.77. The stock has a market cap of $2.80 billion, a P/E ratio of 35.83, a P/E/G ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Large investors have recently bought and sold shares of the company. Entropy Technologies LP purchased a new stake in Boston Beer during the 4th quarter worth approximately $368,000. Legato Capital Management LLC acquired a new position in Boston Beer in the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC acquired a new position in Boston Beer during the fourth quarter worth $434,000. Point72 Hong Kong Ltd acquired a new position in Boston Beer during the third quarter worth $1,746,000. Finally, Barclays PLC lifted its stake in Boston Beer by 44.2% during the third quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after purchasing an additional 3,983 shares in the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.